Crash of Rare Ferrari Under Investigation

By JERRY GARRETT; Eric Pfanner contributed reporting from Paris.

Published: July 22, 2012

FRENCH authorities are continuing to investigate a July 6 crash involving a valuable 1962 Ferrari 250 GTO and a Hyundai minivan on a highway near Blois, according to a spokesman for the police.

The Ferrari was en route to Le Mans with other GTOs, participating in the 250 GTO 50th Anniversary Tour, when it collided with the Hyundai, which was not part of the tour.

Ludovic Sorin of the gendarmerie in the town of Onzain, near Blois, said in a telephone interview that as of Wednesday no charges had been filed and no citations had been issued to either driver. If the investigation finds someone at fault, he added, the case will be given to the a prosecutor. Mr. Sorin was not available later in the week to provide further details.

Mr. Sorin also clarified some aspects that had been erroneously reported in various news accounts. He said that although the occupants of both cars were treated at a local hospital, no one was seriously injured and no one remained hospitalized. Christopher and Ann Cox of Chapel Hill, N.C., own the car, and Mr. Cox was driving at the time; Mrs. Cox was the passenger.

Mr. Sorin also disputed reports that the Ferrari had been demolished, which prompted media speculation that the crash was the most costly auto accident ever. The GTO had moderate front-end damage, he said, and the Hyundai was hit in one side. That explanation would be consistent with initial reports in French newspapers, based on police statements, that the crash happened when one of the cars -- it is unclear which -- turned left in front of the other.

There was no indication that excessive speed was involved, Mr. Sorin said. He added that insurance companies were also looking into the crash.

Some accounts estimated the GTO's value at $30 million to $40 million, based on a Bloomberg report of a $35 million private sale in May of another 250 GTO.

PHOTO: GTO: The Ferrari that crashed, third from front, on display in January. (PHOTOGRAPH BY MARK ELIAS/BLOOMBERG NEWS)